The case involves an application filed under Section 33(2) of the Insolvency & Bankruptcy Code, 2016 by the Resolution Professional (RP) seeking a liquidation order for the Corporate Debtor, Durha Vitrak Private Limited. The application is based on a resolution passed by the Committee of Creditors (CoC) in its 6th meeting held on 28.01.2021, where the CoC, with a requisite majority, decided that no resolution plan was feasible or viable, and thus opted for liquidation.
LIC Housing Finance Ltd. initiated insolvency proceedings against Durha Vitrak Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 08.11.2019. An Interim Resolution Professional (IRP) was appointed, who later became the Resolution Professional (RP). The Committee of Creditors (CoC) consisted of only one financial creditor, LIC Housing Finance Limited. The RP prepared an Information Memorandum and presented it to the CoC. The CoC, in its 6th meeting on 28.01.2021, resolved to liquidate the Corporate Debtor as no resolution plan was deemed feasible or viable. The RP filed an application under Section 33(2) of the IBC seeking a liquidation order. The CoC extended the CIRP period and excluded the period from 25.03.2020 to
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Application (IB-470(ND)/…
IRP was appointed as RP…
The case involves an application filed under Section 33(2) of the Insolvency & Bankruptcy Code, 2016 by the Resolution Professional (RP) seeking a liquidation order for the Corporate Debtor, Durha Vitrak Private Limited. The application is based on a resolution passed by the Committee of Creditors (CoC) in its 6th meeting held on 28.01.2021, where the CoC, with a requisite majority, decided that no resolution plan was feasible or viable, and thus opted for liquidation.
LIC Housing Finance Ltd. initiated insolvency proceedings against Durha Vitrak Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 08.11.2019. An Interim Resolution Professional (IRP) was appointed, who later became the Resolution Professional (RP). The Committee of Creditors (CoC) consisted of only one financial creditor, LIC Housing Finance Limited. The RP prepared an Information Memorandum and presented it to the CoC. The CoC, in its 6th meeting on 28.01.2021, resolved to liquidate the Corporate Debtor as no resolution plan was deemed feasible or viable. The RP filed an application under Section 33(2) of the IBC seeking a liquidation order. The CoC extended the CIRP period and excluded the period from 25.03.2020 to
…Application (IB-470(ND)/…
IRP was appointed as RP…